Specified Condition - NY VM CSA Provision

2016 ISDA Credit Support Annex (VM) (New York law)
A Jolly Contrarian owner’s manual™

Resources and navigation

Resources Wikitext \| Nutshell wikitext Navigation 1 (Interpretation) \| 2 (Security Interest) \| 3 (Credit Support Obligations) \| 4 ( Conditions Precedent, Transfer Timing, Calculations and Substitutions) \| 5 (Dispute Resolution) \| 6 (Holding and Using Posted Collateral (VM)) \| 7 (Events of Default) \| 8 (Certain Rights and Remedies) \| 9 (Representations) \| 10 (Expenses) \| 11 (Miscellaneous) \| 12 (Definitions) \| 13 (Elections and Variables) Index: Click ᐅ to expand: 2016 NY VM CSA

Paragraph Specified Condition in a Nutshell™

Use at your own risk, campers!

Template:Nutshell 2016 NY CSA Specified Condition view template

Full text of Paragraph Specified Condition

“Specified Condition” means, with respect to a party, any event specified as such for that party in Paragraph 13. view template

Related agreements and comparisons

Related Agreements Click here* for the text of Section Specified Condition in the 1994 New York law CSA* Click here* for the text of Section Specified Condition in the 1995 English Law CSA* Click here* for the text of Section Specified Condition in the 2016 English Law VM CSA* Comparisons Template:2nycsadiff Specified Condition Template:Nycsadiff Specified Condition Template:Csadiff Specified Condition

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Content and comparisons

Unique to the New York law CSAs these Specified Conditions are an extra little means of adding still more triggers into your ISDA Master Agreement — as if the Events of Default and Early Termination Events you have laboriously written in aren’t enough.

These Specified Conditions, you might imagine, have a slightly softer pallor as they confer less onerous rights — simply disabling a Secured Party’s right to rehypothecate the Posted Collateral (VM) a Pledgor may have given to it, and things like that.